§ Mr. Tim SmithTo ask the Chancellor of the Duchy of Lancaster how long the inspectors have now been investigating the affairs of James Ferguson Holdings plc; what has been the cost of the investigation to date; when he expects the inspectors to report; and whether the publication of the report will be deferred until all criminal proceedings arising from the Barlow Clowes affair have been disposed of.
§ Mr. Maude[holding answer 13 April 1989]: Mr. Lawrence David Ziman, solicitor, and Mr. Walter Max Hoffman FCA were appointed on 10 June 1988 under section 432 of the Companies Act 1985 to investigate and report on the affairs of James Ferguson Holdings plc. On 4 July 1988, the same inspectors were appointed under section 442 of the Act to investigate and report on the membership of that company and under section 432 to investigate and report on the affairs of Barlow Clowes Gilt Managers Limited.
The investigations have cost £669,244 to date. I am unable to say when the inspectors will submit their report. The question of publication will be considered when the report is received.